I've written a couple of posts about the Legends at Parkview. Mayfield Homes was the original building in the community, but they ended up getting foreclosed. DR Horton picked up the remaining lots and have recently started construction.
When Mayfield was building, the pricing went from the $500Ks to $700Ks. Even when the unsold homes were being sold by the bank that foreclosed, they were selling from the low $400Ks to the low $500Ks.
DR Horton is building homes priced from $270K to $310K. I would expect that there are some options that could push that price up a bit, and while I haven't seen the final product (they don't have any completed or nearly completed homes up yet), the homes Mayfield was building were a bit bigger and featured mostly 3 car garages.
The owners of the older homes are going to end up taking a very big hit. Despite those homes being bigger and possibly higher end, with the new homes coming in around half the price, it will push the values of the first phase down. But those comps will certainly help the newer homes.
If you'd like to get a look at them, let me know. I'm NOT an agent of the community and would be your buyer's agent. That means that I wouldn't be representing the builder, but rather you... the buyer.
Here is a search of currently listed properties in Legends at Parkview.
*****Update***** While out today I noticed that the signage had been changed to say "From the $280's".
Lane were the other homes built iin Legends at Parkview custom built? If so they most probably (aside from the desirable 3 car garage) have a good amount of upgrades and custom features that should set them apart.
Pamela - They weren't really custom, but the builder was open to modifications, but I think most of them were built on spec (hence the cash flow problem). And I don't see that there will be $300k in upgrades and custom features... But, I'll have to get in to see them after they get some inventory built.